WASHINGTON, Oct 7 (Reuters) - Restoring the International Monetary Fund's credibility after the global financial crisis requires a bold shift of power to developing countries from the rich nations who have long controlled the IMF, India's Finance Minister Pranab Mukherjee said on Thursday.
'These changes can enhance the Fund's credibility, only if, bold and forward-looking quota and governance changes are implemented, which will restore the Fund's legitimacy,' he said in statement to the IMF.
(Reporting by Paul Eckert, Editing by Chizu Nomiyama) Keywords: IMF REFORM/INDIA (paul.eckert@thomsonreuters.com; +1-202-789-8578) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'These changes can enhance the Fund's credibility, only if, bold and forward-looking quota and governance changes are implemented, which will restore the Fund's legitimacy,' he said in statement to the IMF.
(Reporting by Paul Eckert, Editing by Chizu Nomiyama) Keywords: IMF REFORM/INDIA (paul.eckert@thomsonreuters.com; +1-202-789-8578) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.